Ambev (NYSE:ABEV) Releases Quarterly Earnings Results, Hits Expectations

Ambev (NYSE:ABEV) released its quarterly earnings results on Wednesday. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05, FiscalAI reports. Ambev had a net margin of 17.69% and a return on equity of 16.63%. The business had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.38 billion.

Ambev Trading Up 0.5%

ABEV stock traded up $0.02 during midday trading on Friday, reaching $3.30. The company’s stock had a trading volume of 73,516,790 shares, compared to its average volume of 25,690,313. The business’s 50-day simple moving average is $2.99 and its 200-day simple moving average is $2.73. The stock has a market cap of $51.93 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 2.40 and a beta of 0.61. The company has a quick ratio of 0.73, a current ratio of 1.03 and a debt-to-equity ratio of 0.02. Ambev has a 52 week low of $2.10 and a 52 week high of $3.45.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group set a $2.65 price target on shares of Ambev and gave the company a “sell” rating in a research note on Thursday, April 16th. Wall Street Zen cut shares of Ambev from a “buy” rating to a “hold” rating in a research note on Monday, March 30th. Barclays increased their price target on shares of Ambev from $3.00 to $3.50 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Weiss Ratings cut shares of Ambev from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $3.01.

Insider Buying and Selling

In other Ambev news, insider De Lacerda Eduardo Cavalcanti sold 152,386 shares of the firm’s stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $2.85, for a total transaction of $434,300.10. Following the transaction, the insider owned 223,340 shares in the company, valued at approximately $636,519. This trade represents a 40.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On Ambev

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GQG Partners LLC boosted its holdings in Ambev by 9.1% during the fourth quarter. GQG Partners LLC now owns 172,969,655 shares of the company’s stock worth $427,235,000 after buying an additional 14,468,963 shares during the last quarter. Morgan Stanley boosted its holdings in Ambev by 291.2% during the fourth quarter. Morgan Stanley now owns 45,462,628 shares of the company’s stock worth $112,293,000 after buying an additional 33,842,540 shares during the last quarter. Bank of America Corp DE boosted its holdings in Ambev by 9.9% during the second quarter. Bank of America Corp DE now owns 27,505,192 shares of the company’s stock worth $66,288,000 after buying an additional 2,479,310 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Ambev by 74.8% during the second quarter. CANADA LIFE ASSURANCE Co now owns 13,409,316 shares of the company’s stock worth $32,624,000 after purchasing an additional 5,740,155 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Ambev by 248.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 13,135,697 shares of the company’s stock worth $32,445,000 after purchasing an additional 9,361,815 shares in the last quarter. Institutional investors own 8.13% of the company’s stock.

Ambev Company Profile

Ambev (NYSE: ABEV) is a Brazilian-based beverage company that produces, distributes and markets a broad portfolio of alcoholic and non-alcoholic drinks. The company’s core business centers on brewing and selling beer, alongside a range of soft drinks, bottled water, energy drinks and other malt-based beverages. Headquartered in São Paulo, Ambev operates an integrated value chain that covers manufacturing, packaging, logistics and commercial sales to retail, on-premise and institutional customers.

The company traces its origins to the 1999 merger of two historic Brazilian breweries, and later became part of the broader global brewing group through subsequent industry consolidations.